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[2/5] Banco Filipino Savings and Mortgage Bank vs. The Monetary Board, et al.

[2/5] BANCO FILIPINO SAVINGS AND MORTGAGE BANK, petitioner, vs. THE MONETARY BOARD, CENTRAL BANK OF THE PHILIPPINES, JOSE B. FERNANDEZ, CARLOTA P. VALENZUELA, ARNULFO B. AURELLANO AND RAMON V. TIAOQUI, respondents.

G.R. No. 70054 | 1991-12-11

Based on the aforequoted provision, the Monetary Board may order the cessation of operations of a bank in the Philippines and place it under receivership upon a finding of insolvency or when its continuance in business would involve probable loss to its depositors or creditors. If the Monetary Board shall determine and confirm within sixty (60) days that the bank is insolvent or can no longer resume business with safety to its depositors, creditors and the general public, it shall, if public interest will be served, order its liquidation.


Specifically, the basic question to be resolved in G.R. Nos. 70054, 78767 and 78894 is whether or...